Perspective
Sep. 13, 2014
The power of a well-crafted arbitration clause
Conventional wisdom is that engagement letters should include an arbitration clause. By Bruce A. Friedman
Conventional wisdom among law firm general counsel is that engagement letters should include an arbitration clause requiring the arbitration of legal malpractice claims against their firms. This general view is based in large part on the fact that arbitration is not public and therefore better suited than a lawsuit to preserving and protecting the reputation of the firm and its partners.
As a former law firm managing partner and ge...
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